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Today's Mortgage Terms starting with I

Index:

An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.

Initial Rate:

The rate charged for the first interval of an ARM loan.

Interest:

Compensation in the form of money paid for the use of money.

Interest Rate Cap:

Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.

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Westmoreland mortgage rates news:
Financial News
We need to say 'no' to the bailout - Journal Press
It’s hard to picture. The notion seems so incredulous. But the Secretary of the Treasury and the Chairman of the Federal Reserve went to the Capitol Hill, with no more than three typed pages outlining their request, and all but demanded that the ...

Republican ticket taking the low road - Las Vegas Sun
Enough! The McCain-Palin campaign is doing a great job of deflecting attention from its weak policies on issues by crying foul over an innocent comment by Barack Obama. I don’t remember this outcry from the McCain-Palin camp recently when ...

Political Insider - Atlanta Journal Constitution
The entry titled "Why your congressman switched on the bailout. Or didn't.," and any of the comments about it. Four days after it voted the measure down, the House voted 263-171 for a $700 billion bailout of the American financial system. That’s a ...

What is the key factor behind the GOP selection of Sarah Palin for VP? - Atlanta Journal Constitution
“The heart wants what it wants,” director Woody Allen once famously said of his own controversial marriage, and so it is with John McCain. He decided on his vice-presidential “soul mate” Sarah Palin after meeting her just twice — announcing ...

The Politics of "Why" - Blogcritics.org
Children are always asking "Why?" They want to understand what they observe. They want to know what lies behind things. They want to be able to read some order and sense into the world. As adults, we get out of the habit of asking why. Why? Because ...

McCain-Palin Camp Tried to Block Media Access to Palin in NY - ABC News Blogs
ABC News' Kate Snow reports: The McCain campaign tried to limit access to Republican vice presidential candidate Sarah Palin today as she met with world leaders in New York. For a time this morning, the McCain-Palin campaign refused to allow any ...

Political Punch - ABC News Blogs
Jake Tapper is ABC News' Senior National Correspondent based in the network's Washington bureau. He writes about politics and popular culture and covers a range of national stories. "Barack Obama’s suggestion that the McCain campaign is somehow ...

Acceptance Speech: McCain vows shakeup - Cleveland Plain Dealer Blog
ST. PAUL, Minn. -- Sen. John McCain, declaring that "change is coming," accepted the Republican Party's presidential nomination Thursday night by describing how his life as a military veteran, political maverick and consensus-builder prepared him to ...

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